Truist Financial Co. (NYSE:TFC) Position Reduced by Brighton Jones LLC

Brighton Jones LLC lowered its stake in Truist Financial Co. (NYSE:TFC) by 60.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 9,488 shares of the insurance provider’s stock after selling 14,775 shares during the period. Brighton Jones LLC’s holdings in Truist Financial were worth $406,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of Truist Financial during the 1st quarter valued at approximately $27,000. MFA Wealth Advisors LLC bought a new stake in Truist Financial in the second quarter valued at $30,000. Y.D. More Investments Ltd bought a new stake in Truist Financial in the second quarter valued at $31,000. Hobbs Group Advisors LLC acquired a new position in shares of Truist Financial during the second quarter valued at $38,000. Finally, Beacon Capital Management LLC lifted its position in Truist Financial by 57.4% in the 1st quarter. Beacon Capital Management LLC now owns 1,015 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 370 shares during the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Truist Financial Stock Down 1.8 %

Shares of NYSE:TFC opened at $42.63 on Friday. The company has a 50 day moving average price of $42.78 and a two-hundred day moving average price of $40.43. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $57.04 billion, a PE ratio of -32.30, a PEG ratio of 1.84 and a beta of 1.05. Truist Financial Co. has a 52 week low of $27.38 and a 52 week high of $45.31.

Truist Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, November 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.88%. Truist Financial’s payout ratio is -157.58%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TFC shares. UBS Group increased their price objective on Truist Financial from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, October 18th. StockNews.com upgraded shares of Truist Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Robert W. Baird downgraded Truist Financial from an “outperform” rating to a “neutral” rating and set a $45.00 target price for the company. in a research report on Wednesday, July 17th. Bank of America upped their price target on shares of Truist Financial from $45.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Finally, Argus boosted their target price on shares of Truist Financial from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $46.02.

Truist Financial Company Profile

Truist Financial Corporation, a financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States. The company operates through three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings.Its deposit products include noninterest-bearing checking, interest-bearing checking, savings, and money market deposit accounts, as well as certificates of deposit and individual retirement accounts.